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Startup may ask for loan to revamp former General Motors plant in Lordstown

The new company wants to make electric trucks at the plant.

LORDSTOWN, Ohio — A startup company that wants to build electric trucks at a former General Motors assembly plant in Ohio is considering asking for a federal loan to get production running.

U.S. Rep. Tim Ryan, an Ohio Democrat, says he expects Lordstown Motors Corp. to apply soon for a $200 million loan. The company announced late last year that it had bought the once-bustling factory near Youngstown that closed last March 2019.

"The government has to play a positive, impactful role to make this happen and help the risk taker who is putting all the money in," Ryan told the Tribune Chronicle, adding he thinks the money would go towards renovating the plant for its new purpose.

Credit: Lordstown Motors Corp.
A first look at the electric trucks that will be built by Lordstown Motors, a newly formed company that has taken over the shuttered GM facility.

Lordstown Motors says it's learning more about the loan program. The company didn't reveal additional details. It has said it wants to begin production by year's end.

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